Factris, the Amsterdam-based FinTech specialising in SME financing solutions, has announced a major funding agreement designed to boost its European expansion.
The company has secured a €100m funding facility from Brand New Day Bank, according to a report from EU-Startups. This capital injection is earmarked for financing SME factoring across Europe, supporting sellers in nine countries and managing receivables from debtors in 27 markets, largely within the EU.
Founded in 2017, Factris provides invoice factoring services that enable businesses to turn unpaid invoices into working capital. The firm’s software platform allows companies to quickly upload invoices, which Factris can purchase in full or in part. Once invoices are sold, Factris assumes responsibility for collections and credit insurance, offering protection against insolvency and non-payment while charging only a small fee deducted from the invoice value.
The newly secured facility will be used to scale Factris’ factoring operations, providing SMEs with quicker access to liquidity and helping businesses across Europe grow without being constrained by cash flow challenges.
Factris CEO Brian Reaves said, “This new facility is a testament to the trust and confidence Brand New Day Bank has placed in Factris and our vision for SME financing. As we continue to scale across Europe, this partnership ensures we can meet the increasing demand for alternative financing and provide SMEs with the liquidity they need to thrive.”
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